Perpetua's Modified Mine Plan identified as
Preferred Alternative due to improvements in water quality and
temperature and site access benefits.
Modified Mine
Plan expected to deliver net environmental benefits based on
the comprehensive scientific analysis mandated by the National
Environmental Policy Act.
BOISE,
Idaho, Nov. 9, 2022 /CNW/ - Perpetua Resources
Corp. (NASDAQ: PPTA )(TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or "the Company") announced today that the Supplemental
Draft Environmental Impact Statement ("SDEIS") published by the
United States Forest Service ("USFS") on October 28, 2022 highlights the net positive
environmental outcomes that the Stibnite Gold Project ("Project")
can provide to the abandoned mine site based on the results of
comprehensive scientific analysis conducted by the USFS over the
last six years. The USFS identified Perpetua Resources' proposed
action, the "Modified Mine Plan," as the Preferred Alternative
because the Modified Mine Plan:
- Incorporates water management and closure activities to reduce
the duration of long-term water treatment requirements,
- Includes measures to manage stream temperatures, and
- Reduces potential impacts associated with access,
transportation, and hazardous materials on alternative access
routes to the project site.
The USFS also concluded the Preferred Alternative would
reasonably accomplish the purpose and need for consideration of
approval of the Stibnite Gold Project, while giving consideration
to environmental, economic, and technical factors. Under the
National Environmental Policy Act ("NEPA"), a "Preferred
Alternative" is identified by a Federal agency in a Draft
Environmental Impact Statement ("DEIS") to let the public know
which action the agency is leaning toward selecting as final.
"We are proud that the USFS recognizes Perpetua's diligent
efforts to improve environmental outcomes for the historic mining
area through the redevelopment of the Stibnite Gold Project," said
Laurel Sayer, President and CEO of
Perpetua Resources. "We designed our Project to improve river
habitat and water quality. The feedback we have heard from our
stakeholders, through the NEPA process and public engagement, has
helped us enhance our plan and we are pleased to see the USFS
highlighted some of these improvements in the SDEIS."
The SDEIS compares the environmental impacts of the Modified
Mine Plan to leaving the project site as it is today ("baseline
conditions"). In identifying the Modified Mine Plan as the
Preferred Alternative, the SDEIS articulates several specific ways
that the Modified Mine Plan is expected to improve environmental
conditions in certain key areas relative to the baseline
conditions, including improving water quality, mitigating effects
on water temperature, and increasing access to habitat for fish.
Several of these conclusions from the SDEIS are summarized
below.
Modified Mine Plan Increases Access to Fish Habitat Relative
to Baseline Conditions:
- Net increase in available fish habitat both during operations
and following closure and reclamation, including an estimated
increase in critical habitat available to Chinook salmon and bull
trout by over 19 km and to steelhead by over 8 km
- Net increase in suitable rearing habitat for steelhead and
improved thermal suitability of newly accessible habitat for
Chinook salmon resulting from improved water temperatures in the
East Fork South Fork Salmon River
- Permanent, regional, and beneficial effect on Chinook salmon,
steelhead, bull trout and westslope cutthroat trout within the
vicinity of the mine driven by the removal of fish barriers and
planned restoration activities
- Increased habitat available for potential occupancy and
increased occupancy probability for bull trout and westslope
cutthroat trout following completion of restoration activities
including construction of the Stibnite Lake; however, there are net
impacts to bull trout critical habitat projected from operations
and the post-closure configuration of the Tailings Storage Facility
("TSF")
- Long-term and beneficial effect on fish resulting from reduced
contaminant concentrations in the East Fork South Fork of the
Salmon River downstream from the Project site – approximately 40%
reduction in arsenic and 58% reduction in antimony in surface
water
Modified Mine Plan Improves Water Quality and Mitigates
Effects on Water Temperature Relative to Baseline
Conditions:
- Greatly reduced the volume and duration of long-term water
treatment due to the adoption of a refined, comprehensive water
management plan, and updated closure strategy incorporating
engineered cover systems over the TSF, and backfilled Yellow Pine and Hangar Flats pits which
improve surface water quality
- Improvements in stream temperatures across the majority of the
site including significant temperature reductions in Meadow Creek below East Fork Meadow Creek and
overall reduced temperatures in the East Fork South Fork Salmon
River relative to baseline conditions due to enhanced riparian
planting prescriptions, incorporation of temperature buffering lake
feature, and piping of Meadow
Creek summer low flow around the TSF during operations
- Temperature increases of up to 6.6OC are predicted
in upper Meadow Creek above East
Fork Meadow Creek following restoration of the stream across the
TSF and prior to establishment of riparian vegetation, but summer
maximum temperatures are expected to drop to one degree below
baseline conditions once riparian vegetation is fully mature
"Perpetua Resources has always been committed to modern,
responsible mining practices," said Deb
Filler, Yellow Pine
resident. "Today, the East Fork South Fork of the Salmon River is
polluted from mining wastes left in Meadow Creek. Perpetua's plan will improve
water quality in our backyard, restore fish passage that has been
blocked for decades, and create hundreds of jobs for local
residents while producing a critical mineral our country
needs."
The extensive scientific analysis by the USFS and cooperating
agencies, combined with the additional public review of the SDEIS,
fortify the rigorous environmental review process mandated by NEPA.
Identification of the Modified Mine Plan as the Preferred
Alternative by the USFS is a major milestone in the advancement of
the Project and provides clarity for the remainder of the NEPA
process. The Company anticipates that the USFS will update its
schedule for the remainder of the NEPA process following the SDEIS
comment period which is expected to end January 10, 2023.
About Perpetua Resources and the Stibnite Gold
Project
Perpetua Resources Corp., through its wholly owned
subsidiaries, is focused on the exploration, site restoration and
redevelopment of gold-antimony-silver deposits in the
Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite
Gold Project. The Project is one of the highest-grade, open
pit gold deposits in the United
States and is designed to apply a modern, responsible mining
approach to restore an abandoned mine site and produce both gold
and the only mined source of antimony in the United States. Further advancing Perpetua
Resources' ESG and sustainable mining goals, the Project will be
powered by the lowest carbon emissions grid in the nation and a
portion of the antimony produced from the Project will be supplied
to Ambri, a US-based company commercializing a low-cost liquid
metal battery essential for the low-carbon energy transition.
In addition to the company's commitments to transparency,
accountability, environmental stewardship, safety and community
engagement, Perpetua Resources adopted formal ESG commitments which
can be found here.
Forward-Looking Information and Cautionary
Note
Investors should be aware that the publication of
the SDEIS and the identification by the USFS of the Modified Mine
Plan as the Preferred Alternative does not indicate any commitments
on the part of the USFS with regard to a final decision. In
developing the Final Environmental Impact Statement ("FEIS"), the
next phase of the NEPA planning process, the USFS may select
various actions based on the Modified Mine Plan or each of the
alternatives analyzed in the SDEIS. The SDEIS is subject to
review and comment by the public through the public review period,
which may be extended by the USFS in its sole discretion. In
addition, statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, next steps
and courses of action including environmental clean up actions by
us and our contractors; our ability to comply with and obtain
permits related to the Stibnite Gold Project; actions to be taken
by the USFS, the State of Idaho
and other government agencies and regulatory bodies; the timing of
the public review period; predictions regarding improvements to
water quality, water temperature, and fish habitats and other
environmental conditions at the site, including with respect to
process and timing of such improvements; reduction of the Project
footprint and the anticipated benefits and other effects thereof;
our ability to successfully implement the Project and the
occurrence of the expected benefits from the Project, including
contributions to the workforce, national security and clean energy
transition; our and Ambri Inc.'s ability to perform under the
supply agreement, which agreement is subject to certain conditions,
including identification of one or more refiners to transform our
antimony concentrate into antimony metal, and mutual agreement on
certain material terms, including volume and pricing. In certain
cases, Forward-Looking Information can be identified by the use of
words and phrases or variations of such words and phrases or
statements such as "anticipate", "expect" "plan", "likely",
"believe", "intend", "forecast", "project", "estimate",
"potential", "could", "may", "will", "would" or "should". In
preparing the Forward-Looking Information in this news
release, Perpetua Resources has applied several material
assumptions, including, but not limited to, assumptions that the
current exploration, development, environmental and other
objectives concerning the Stibnite Gold Project can be achieved and
that its other corporate activities will proceed as expected; that
the review process under the NEPA (including any joint review
process involving the USFS, the State of Idaho and other agencies and
regulatory bodies) as well as the public review process and SDEIS
will proceed in a timely manner and as expected; that we will be
able to obtain sufficient funding to finance permitting,
pre-construction and construction of the Project and that all
requisite information will be available in a timely manner.
Forward-Looking Information are based on certain material
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Perpetua Resources to be materially different from
any future results, performance or achievements expressed or
implied by the Forward-Looking Information. Such risks and other
factors include changes in laws and regulations and changes in the
application of standards pursuant to existing laws and regulations
which may result in unforeseen results in the permitting process;
uncertainty surrounding input to be received from regulators and
community stakeholders; risks related to dependence on key
personnel; risks related to unforeseen delays in the review process
including availability of personnel from the USFS, State of Idaho and other stated, federal and
local agencies and regulatory bodies (including, but not limited
to, future US government shutdowns); risks related to opposition to
the Project; risks related to increased or unexpected costs in
operations or the permitting process; risks that necessary
financing will be unavailable when needed on acceptable terms, or
at all; risks related to the outcome of litigation and potential
for delay of the Project, as well as those factors discussed
in Perpetua Resources' public filings with the U.S. Securities and
Exchange Commission (the "SEC") and its Canadian disclosure record.
Although Perpetua Resources has attempted to identify important
factors that could affect Perpetua Resources and may cause actual
actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-Looking Information. For
further information on these and other risks and uncertainties that
may affect the Company's business, see the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of the Company's filings with the
SEC, which are available at www.sec.gov and with the Canadian
securities regulators, which are available at www.sedar.com. Except
as required by law, Perpetua Resources does not assume any
obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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content:https://www.prnewswire.com/news-releases/perpetua-resources-announces-supplemental-draft-eis-highlights-positive-environmental-outcomes-301673725.html
SOURCE Perpetua Resources Corp.